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Cattle Futures Fall by Limit
On Mad-Cow Case in Canada

By

Jim Cote OsterDowJones Commodity News

Updated May 20, 2003 6:38 p.m. ET

CHICAGO -- Live-cattle futures on the Chicago Mercantile Exchange fell by the exchange-imposed daily limit of 1.5 cents a pound following heavy selling on talk -- later confirmed -- that Canada had found its first native case of bovine spongiform encephalopathy, better known as mad-cow disease.

May cattle fell to 75.55 cents and the most-active June contract to 72.40 cents. All live cattle futures fell by their limit, with June options trading at a synthetic value of 71 cents a pound, or 1.4 cents below Tuesday's...